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Shikun&Binui and Africa Israel Properties Chosen as Best Bid for IDF’s Telecom Headquarters PPP Concession

Shikun&Binui and Africa Israel Properties Chosen as Best Bid for IDF's Telecom Headquarters PPP Concession

Shikun&Binui Ltd. (TASE: SKBN.TA) today announced that its subsidiary project company ICT City in the Negev (in which Shikun&Binui and Africa Israel Properties hold equal percentages), was selected as the best bid for a Ministry of Defense (MoD) tender for the design, build, finance, operate and maintain (DBFOM) project of the IDF Telecom HQ in Be’erSheva, for a period of 25 years.

The construction joint venture will comprise SolelBoneh and DanyaCebus (in equal parts) and the expected construction period is approximately 60 months until completion . After the construction period, the project will be operated and maintained by Shikun&Binui and Africa Israel Properties for 20 years. The IDF Telecom HQ is expected to include a number of different units and is being established as part of the relocation of Israel’s Defense Forces (IDF) army bases to the Negev area in Southern Israel. The project will be financed by a consortium led by Bank Leumi together with a number of institutional and banking institutions.

Bank Leumi issued the following statement: “We congratulate Shikun&Binui and Africa Israel Properties on the win of this tender. The challenging process of accompanying and advancing this transaction on the financing side reflects our organizational and financial capabilities for project financing in Israel. Through our professional and creative solutions, we enabled the successful financial closing and the award of the group of this tender.”

Avi Barzilai, Deputy CEO of Africa Properties, said, “We are proud and welcome the selection by the Ministry of Defense of Shikun&Binui and Africa Israel Properties, as the best bid in the tender that was published for the establishment and operation of the IDF’s Telecom HQ. The new campus, which is to be established near Ben Gurion University in Beer Sheva, Southern Israel, is a strategic project that represents an important expression of confidence by the MoD in both companies. This reflects our ongoing successes in establishing infrastructure projects under BOT and PPP (private-public sector partnership) schemes.”

Allon Raveh, CEO of Shikun&Binui Concessions: “Being chosen as preferred bidder is a strong expression of faith and trust in our Group by the Israeli Government and the banks. We are thrilled with the opportunity to lead the most prestigious defense concession that is currently under development in Israel, and we are confident in our ability to perform this project successfully to the full satisfaction of the client and the banks.”

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